Collector square is a website that gives a second life to luxury items. If you own or wish to acquire luxury items, you can go directly to www.collectorsquare.com. You can also visit their physical showroom.
Collector square has been around since 2013, and has recently concocted a real marvel, a real nugget of innovation: the LuxPrice-index©.
LuxPrice-index© gives you the market value of any luxury item (bag and watch for the moment). So, depending on the year and the season, you know roughly how much your item is worth and how much you should buy it for.
To find out more about this technological gem, we put a few questions to Loïc Bocher, the designer of the Collector Square online sales space and the person who brought this revolutionary LuxPrice-index© tool to life. He is also the Managing Director/Co-founder/Specialist in new technologies, information systems and digital marketing, a business leader and, of course, an entrepreneur.
How did you come up with the idea of creating the LuxPrice-index©? ?
The idea came both from our ambition to create a new, transparent intermediation model for second-hand luxury goods, and from existing bases in the art world. We wanted to do the same for the second-hand luxury market. What’s more, we believe that the luxury goods market is highly conducive to trend analysis, since it is possible to rely on the existence of collections and models for manufactured products.
Why did we create the LuxPrice-index©? ?
The database is currently the only one of its kind in the world, and has rapidly become the benchmark for luxury watch and bag prices, even among professionals. The primary objective is to bring transparency to the market, so as to be able to set the fairest price at the time of sale, and to inform both private individuals and professionals of the real (and not estimated) value of an object.
Our ambition with LuxPrice-index is to reassure both the buyer – who can access the rating of the objects in the descriptive sheets of the objects sold on www.collectorsquare.com – and the seller, with whom we set the price of the object when it is sold.
How many people were involved in this project?
At least fifteen people took part in the project.
Who are they?
A team of watch and bag industry professionals (including experts) have created the universal brand and collection catalog, bringing together for the first time the universe of possible brands, collections and models.
A technical team of developers who brought to life the system for collecting, breaking down and analyzing sales results
A team of analysts whose role is to ensure the consistency and breakdown of data, as well as to produce regular analysis reports on market trends, hand in hand with the experts.
How long did it take you to complete this project?
It’s a complex, long-term project that took us almost 3 years to complete before its launch in May 2013, and has been constantly evolving and enriching ever since, aiming to collect ever more data that will make the database increasingly exhaustive.
Are you planning to apply your concept to other luxury goods?
We are currently preparing to open LuxPrice-index to jewelry, in addition to watches and luxury bags.
We’d like to thank Loïc and the entire collector square team for allowing us to conduct this interview, and invite you to discover this indispensable tool for all fashionistas.
Enjoy your Fashion analysis!
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